IPO calendar: Shadowfax is one of four IPOs worth Rs 2,066 crore to hit the market; Bharat Coking Coal leads seven lists

India’s primary market is set for an active week, with four companies looking to raise around Rs 2,066 crore through initial public offerings, led by logistics firm Shadowfax Technologies, even as investor focus remains on upcoming listings such as Bharat Coking Coal and Amagi Media Labs.Investors will be watching a total of seven listings next week, including two closely watched mainboard debuts: Bharat Coking Coal and Amagi Media Labs. Bharat Coking Coal’s IPO has already attracted a lot of attention, with as many as 147 registrations and a gray market premium indicating a potential stock market gain of 57%.

Amagi Media Labs, meanwhile, commands a more modest 7% gray market premium, reflecting selective investor interest.

IPO of Shadowfax Technologies

The biggest IPO for next week is Shadowfax Technologies, which will open its Rs 1,907 crore motherboard IPO on January 20 and close on January 22, with a listing scheduled for January 28. The issue includes a fresh issue of Rs 1,000 crore and an offer for sale worth Rs 907 crore, and will be listed on both the BSE and NSE.

Prior to release, Shadowfax has a GMP of approximately 12%. At the higher end of the price range of Rs 124 per share, Shadowfax is valued at a pre-IPO market capitalization of around Rs 7,169 crore.

Founded in 2016, Shadowfax has grown into one of the largest asset-light logistics players serving India’s fast-growing e-commerce and quick-commerce ecosystem. The company has 14,758 PIN codes across 4,299 touchpoints, supported by more than 3.5 million square feet of operational space and 53 sortation centers. The platform focuses on major customers such as Meesho, Flipkart, Myntra, Swiggy, Blinkit, Zepto and Zomato.

On the financial front, the company has shown a sharp turnaround, posting a profit after tax of Rs 21 crore in the six months ended September 2025, compared to losses in previous years, while EBITDA stood at Rs 64 crore in the same period.

SME segment

Besides Shadowfax, the MSME segment will also see activities including Digilogic Systems, which is looking to raise around Rs 81 crore, and KRM Ayurveda, with an issue size of nearly Rs 77 crore. Another SME issue, Shayona Engineering, is also on the program this week.Overall, the IPO calendar points to steady momentum at the start of 2026. Shadowfax’s offering, in terms of size and positioning, is expected to set the tone for the week, while strong buzz around Bharat Coking Coal could shape broader investor sentiment in the primary market.

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